Budget 2017 has focused on infrastructure, including digital infrastructure, increasing private investments, increase consumption and strengthen social sector and safety net, including health and education. The key feature of the Budget appears to be several declared deadlines for outcomes such as elimination of TB by 2025, removal of unmanned crossings in railways by 2019, etc.

Infrastructure status to affordable housing comes as a landmark announcement for the consumers and the real estate industry. A long-standing demand of the sector, the government has realised that housing and infrastructure can be two pillars to increase GDP and accelerate economic growth.

With India being the fifth largest energy consumer in the world, the country needs to make a concerted effort in promoting energy-efficiency by reducing its dependence on fossil fuels and curtailing carbon footprints.

The industry was keen to see the representation the rail sector would get in this combined Budget, the first in independent India. The Finance Minister did a good job focusing on key and strategic measures for the railway sector.

I would term it as a reform oriented Budget, where the expenditure was well directed towards economic growth and development, especially in the rural areas. It also reflected the government’s concern and priority to improve the investment climate with a view to stimulate growth. The massive push for improvement in infrastructure including record capital expenditure for roads, railways will indirectly benefit the real estate sector in the long run.

It’s a bold and gamechanging Budget; the government has focused on higher spending in rural economy, agriculture, housing and infrastructure, and yet maintained the best standards of fiscal prudence. The Finance Minister has kept in mind the need to continue with strong economic reforms, promote higher investments and accelerate growth, particularly is sectors such as railways, roadways, and solar energy. It is a very good budget, I would like rate to 8 out of 10.

In my view, the 2017 Indian Union budget is a bold and progressive one, striking the right balance for different sectors with an eye on growth and employment. Acknowledging the challenges of higher oil prices, stronger dollar and volatile commodity prices, the Budget has provided larger investments in infrastructure, rural sector and poverty alleviation, which will not only push the GDP higher, but realise such growth in an inclusive manner.

The Budget 2017 is an extremely positive Budget, aimed at giving benefits to the masses and weeding out unaccounted cash from the system. In the real estate sector, the thrust has clearly been on the affordable housing sector.

Providing a roof over one’s head is as or more important than building roads and bridges for a country like ours. Terming affordable housing as ‘infra’ has finally given the sector its due. With the infra status stamp, our universe of investors has gone up manifold. For example, we now also have access to the Rs 40,000 crore National Infrastructure Investments Fund (NIIF).